-Livemint.com * SBI saw total wilful defaults rise by around ₹14,000 crore in the six months to September to ₹58,475 crore *ICICI Bank is the only outlier when seen on a standalone basis, with wilful defaults falling 0.2% Eight of India’s biggest banks have seen a significant jump in wilful defaults in the six months to September, with such loans rising by over ₹37,000 crore to ₹1.5 trillion, shows data on suit-filed accounts...
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EMI crisis creeping up on borrowers -Shayan Ghosh
-Livemint.com * The spike in auto-debit failures suggest that the pain may have only just begun for India’s small borrowers * With mandatory EMI repayments kicking in since September, many feel the available recast options and a waiver of compound interest are not sufficient. India may be staring at a loan crisis MUMBAI: For someone who had never defaulted on any loans before March this year, Monica Keerthi Karri gets quite harried at...
More »Fraud of Rs.57 lakh detected in JNU
-The Hindu New Delhi: A central expenditure audit team has detected a fraud of ₹57 lakh by over 100 officials of Jawaharlal Nehru University (JNU), in claiming leave travel concession and reimbursement of phone bills during the 2017-18 period. Executive Council While the varsity did not respond to queries pertaining to the same, a senior official, who did not wish to be named, said that the matter was put forth before the Executive...
More »Mehul Choksi Tops RBI List Of defaulters Who Owe Nearly Rs 70,000 Crore -Divyanshu Dutta Roy
-NDTV/ PTI In response to a RTI query, the RBI released the names of top 50 with the highest amount of loans written off New Delhi: Business tycoons Mehul Choksi, the Jhunjhunwala brothers, and Vijay Mallya are among the prominent individuals linked to companies named by the Reserve Bank of India (RBI) in a list of the top 50 wilful defaulters accused of scamming the country's banks. In a Right to Information or...
More »Migrant Worker Exodus Is No Confidence Vote Against Centre -Brinda Karat
-NDTV Spraying chemicals on migrant workers to sanitize them as in Uttar Pradesh. Locking them up in a shed as in Bihar. Opening temporary jails for them as in Haryana. Herding them into ill-equipped quarantine centers across national highways. A Home Ministry circular invoking the penal provisions of the National Disaster Management Act to imprison such defaulters. India has shamed itself in its utterly inhuman treatment of migrant workers - jobless,...
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